There are 7 clones of Degen and zero clones of Farcaster

what does that tell us?

People would rather put in minimal effort to try to get rich quick than chew glass and stare into the abyss.

But I also liked your take, and think you're mostly right.

Head of Engineering at Courtyard.io, bringing physical collectibles onchain. nf.td/joe /courtyard /backend

Hard to take the take seriously when one of the three tokens he gave as an example isn’t a tipping token. Feels like discomfort about projects actually getting traction. Degen tips were just cut drastically, there are a ton of interesting projects building in the ecosystem

I think the question is whether there's actually traction after the music stops, or is it essentially a ZIRP situation. Lots of models are seemingly feasible when money is free.

definitely an open question, and one I think about a lot

good to be critical about the things you are most bullish on, as a rule

Yes, so I suppose it's a question of whether degen will be lindy. Pokemon cards certainly are (25 years in, there's been ups and downs but hasn't gone to 0). I still own a large bag, but I don't think it's a sure thing and I appreciate those like yourself that can think probabilistically about it.

people are using degen today, degen they bought on the market, within a multitude of apps.

can't the same question be asked of any speculative activity, pokemon card trading for example? which saw enormous booms and busts during the covid cycle?